USD/JPY may rise 59 - 104 pips

Pivot

156.70

Our preference

Long positions above 156.70 with targets at 158.00 & 158.45 in extension.

Alternative scenario

Below 156.70 look for further downside with 156.10 & 155.45 as targets.

Comment

The break above 156.70 is a positive signal that has opened a path to 158.00.

Supports and resistances

158.85

158.45

158.00

157.41 Last

156.70

156.10

155.45

Number of asterisks represents the strength of support and resistance levels.